Bank Of Hope Mortgage Rates, Fees & Info
Los Angeles, CALEI: 549300F570XAWYN8Z237
Tax ID: 95-3972168
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Mortgage Data
Review & Overview
Bank Of Hope is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Bank Of Hope has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, New York, San Diego, Corpus Christi, and Houston among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of Hope has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bank Of Hope is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.33% | 12/16/24 |
| 30 Year Conventional Refi | 6.53% | 12/16/24 |
| 30 Year Cash-out Refi | 6.68% | 12/16/24 |
| 15 Year Conventional Purchase | 5.69% | 12/16/24 |
| 15 Year Conventional Refi | 5.84% | 12/16/24 |
| 15 Year Cash-out Refi | 5.84% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Bank Of Hope Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
712Origination Dollar Volume (All Markets)
$993,660,000Awards
Bank of Hope - 2022
Bank of Hope is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 384 | $637,460,000 | $1,660,052 | $6,758 | 3.91% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 158 | $110,970,000 | $702,342 | $7,472 | 4.43% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 17 | $50,375,000 | $2,963,235 | $6,353 | 3.69% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $43,505,000 | $43,505,000 | $0 | 2.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 8 | $35,020,000 | $4,377,500 | $4,715 | 3.45% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 36 | $26,730,000 | $742,500 | $5,422 | 4.03% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 10 | $13,720,000 | $1,372,000 | $5,440 | 3.55% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 15 | $12,065,000 | $804,333 | $5,281 | 4.71% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 5 | $9,075,000 | $1,815,000 | $4,554 | 3.40% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 6 | $7,580,000 | $1,263,333 | $4,224 | 4.48% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 19 | $6,905,000 | $363,421 | $4,593 | 3.76% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 7 | $6,785,000 | $969,286 | $7,971 | 4.59% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 10 | $6,360,000 | $636,000 | $6,744 | 4.33% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 10 | $5,000,000 | $500,000 | $4,624 | 4.31% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $4,805,000 | $4,805,000 | $0 | 3.40% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $4,160,000 | $2,080,000 | $6,063 | 4.88% |
| Lufkin, TX (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $0 | 4.08% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 3 | $1,685,000 | $561,667 | $0 | 4.67% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $1,545,000 | $1,545,000 | $0 | 5.55% |
| Hudson, NY (FHA|USDA|VA) | 1 | $1,385,000 | $1,385,000 | $21,452 | 4.88% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $1,100,000 | $550,000 | $0 | 5.47% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 4.20% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $3,998 | 2.63% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $6,994 | 6.00% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $3,978 | 2.75% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $6,941 | 5.25% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,039 | 3.88% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 6.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,892 | 6.88% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,520 | 4.63% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,163 | 7.13% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 5.38% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,602 | 5.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 3.88% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bank of Hope based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 712 | $993,660,000 | $1,395,590 | $6,698 | 4.08% |
For 2022, Bank Of Hope's most frequently originated type of loan was Conventional, with 712 originations.
Loan Reason
For 2022, Bank Of Hope's most frequently cited loan purpose was Home Purchase, with 354 originations. The 2nd most popular reason was Cash Out Refi, with 164 originations.
Loan Duration/Length
For 2022, Bank Of Hope's most frequently cited loan duration was 30 Year, with 579 originations. The 2nd most popular length was 10 Year, with 49 originations.
Origination Fees/Closing Costs
Bank Of Hope's average total fees were $6,764, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 305 originations.
Interest Rates
During 2022, Bank Of Hope's average interest rate for loans was 4.02%, while their most frequently originated rate bucket for loans was 3-4%, with 290 originations.
Loan Sizing
2022 saw Bank Of Hope place emphasis on $1MM+ loans with 249 originations, totaling $746,045,000 in origination value.
Applicant Income
Bank Of Hope lent most frequently to those with incomes in the $250k+ range, with 207 originations. The second most popular income band? $150k-250k, with 137 originations.
Applicant Debt to Income Ratio
Bank Of Hope lent most frequently to those with DTI ratios of 20-30%, with 81 originations. The next most common DTI ratio? 30-36%, with 78 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.13%
Bank Of Hope has an average approval rate.
Pick Rate
Approvals leading to origination73.74%
Bank Of Hope has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 712 | $993,660,000 | $1,395,590 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Trouble during payment process | 7 | 46.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 6.7% |